Linkfest: Fed cracks down on bank warehouses; China hiring probe; IMF says bailouts will mean haircuts
Categories: Linkfest
Today’s most shared: Fed pressed JPMorgan hard on warehouses… US probe of China princeling hiring/bribery expands… IMF says there will be haircuts (a prospect which will do little to discourage the next run on sovereign debt)… Marks: The race to the bottom is back on… Does poverty cause bad choices, or vice versa? … Hedge funds step into lending vacated by banks… Cameron doesn’t want expanded EC’s huddled masses… Bitcoin: “The crash is going to be great”.
Exclusive – JPMorgan tried but failed to satisfy Fed on metals warehousing: letters
Reuters
The U.S. Federal Reserve was pressing JPMorgan Chase & Co to distance itself from its metals warehousing business more than a year ago.
shared by @fiatcurrency, NYT Dealbook, Crossing Wall Street, @creditplumber, @humenm
Reuters
The U.S. Federal Reserve was pressing JPMorgan Chase & Co to distance itself from its metals warehousing business more than a year ago.
shared by @fiatcurrency, NYT Dealbook, Crossing Wall Street, @creditplumber, @humenm
U.S. expands China hiring probe to Morgan Stanley
Reuters
The U.S. Justice Department is probing Morgan Stanley for its hiring practices in China, according to a person familiar with the matter.
shared by @BuzzFeedBen, @AmyResnick, @IvanTheK, @prchovanec, @DavidBarboza2
Reuters
The U.S. Justice Department is probing Morgan Stanley for its hiring practices in China, according to a person familiar with the matter.
shared by @BuzzFeedBen, @AmyResnick, @IvanTheK, @prchovanec, @DavidBarboza2
I.M.F. Shifts Its Approach to Bailouts
New York Times
The International Monetary Fund is advocating a more aggressive approach to debt restructuring that would shift some pain to the private sector, and away from German-style austerity.
shared by @rodrikdani, @MarkThoma, @YanniKouts, Crossing Wall Street
New York Times
The International Monetary Fund is advocating a more aggressive approach to debt restructuring that would shift some pain to the private sector, and away from German-style austerity.
shared by @rodrikdani, @MarkThoma, @YanniKouts, Crossing Wall Street
New Boom in Subprime Loans, for Smaller Businesses
New York Times
Wall Street and private equity firms and hedge funds have grown frustrated by low returns on other forms of debt and turned instead to riskier but more lucrative bets on ever-smaller companies.
shared by @IvanTheK, @moorehn, @MattGoldstein26
New York Times
Wall Street and private equity firms and hedge funds have grown frustrated by low returns on other forms of debt and turned instead to riskier but more lucrative bets on ever-smaller companies.
shared by @IvanTheK, @moorehn, @MattGoldstein26
Poor choices
Financial Times
Should "circumstances matter" be the new "incentives matter"?
shared by @interfluidity, @abnormalreturns, @EpicureanDeal, @jasonzweigwsj
Financial Times
Should "circumstances matter" be the new "incentives matter"?
shared by @interfluidity, @abnormalreturns, @EpicureanDeal, @jasonzweigwsj
$15 minimum wage passes in SeaTac, but recount coming
seattletimes.com
As supporters of a $15 minimum wage for workers in and around Seattle-Tacoma International Airport declared victory Tuesday, opponents made clear the fight is far from over.
shared by @tylercowen, @ryanchittum, @davidmwessel
seattletimes.com
As supporters of a $15 minimum wage for workers in and around Seattle-Tacoma International Airport declared victory Tuesday, opponents made clear the fight is far from over.
shared by @tylercowen, @ryanchittum, @davidmwessel
David Cameron: Free movement within Europe needs to be less free
Financial Times
On January 1, the people of Romania and Bulgaria will have the same right to work in the UK as other EU citizens. I know many people are deeply concerned about the impact that could have on our country. I share those concerns.
shared by @SonyKapoor, @LorcanRK, @TimHarford, @spignal, @D_Blanchflower
Financial Times
On January 1, the people of Romania and Bulgaria will have the same right to work in the UK as other EU citizens. I know many people are deeply concerned about the impact that could have on our country. I share those concerns.
shared by @SonyKapoor, @LorcanRK, @TimHarford, @spignal, @D_Blanchflower
Howard Marks: The Race Is On
oaktreecapital.com
We’re seeing another upswing in risky behavior. It began surprisingly soon after the crisis (see Warning Flags, May 2010), spurred on by central bank policies that depressed the return on safe investments. It has gathered steam ever since, but not to anywhere near the same degree as in 2006-07.
shared by @DougKass, @cullenroche
oaktreecapital.com
We’re seeing another upswing in risky behavior. It began surprisingly soon after the crisis (see Warning Flags, May 2010), spurred on by central bank policies that depressed the return on safe investments. It has gathered steam ever since, but not to anywhere near the same degree as in 2006-07.
shared by @DougKass, @cullenroche
RBS faces possible criminal probe
Financial Times
The Serious Fraud Office is considering a criminal investigation into allegations Royal Bank of Scotland systematically defrauded companies by forcing them out of business, amid growing pressure on the bank over its treatment of SMEs.
shared by @davidenrich, @FGoria, @RANsquawk, @Ian_Fraser
Financial Times
The Serious Fraud Office is considering a criminal investigation into allegations Royal Bank of Scotland systematically defrauded companies by forcing them out of business, amid growing pressure on the bank over its treatment of SMEs.
shared by @davidenrich, @FGoria, @RANsquawk, @Ian_Fraser
In Silicon Valley, Partying Like It’s 1999 Again
New York Times
A heady stew of technology, entrepreneurs and venture capitalists is simmering again, but along with the rich payouts and soaring valuations is an undercurrent of concern.
shared by @ericjackson, @newsycombinator, @EpicureanDeal
New York Times
A heady stew of technology, entrepreneurs and venture capitalists is simmering again, but along with the rich payouts and soaring valuations is an undercurrent of concern.
shared by @ericjackson, @newsycombinator, @EpicureanDeal
S&P says banks may have to spend extra $104bn on mortgage cases
Financial Times
The biggest US banks may have to spend a further $104bn to resolve mortgage-related legal issues as they try to put the costs of the subprime crisis behind them, Standard & Poor’s, the credit rating agency, estimates.
shared by @LaurenLaCapra, Naked Capitalism
Financial Times
The biggest US banks may have to spend a further $104bn to resolve mortgage-related legal issues as they try to put the costs of the subprime crisis behind them, Standard & Poor’s, the credit rating agency, estimates.
shared by @LaurenLaCapra, Naked Capitalism
Much Ado About Bitcoin
New York Times
The Internet currency is a digital gold rush perfectly emblematic of the present.
shared by @moorehn, @kevinroose, @JustinWolfers, @MichaelKitces, @BuzzFeedBen
New York Times
The Internet currency is a digital gold rush perfectly emblematic of the present.
shared by @moorehn, @kevinroose, @JustinWolfers, @MichaelKitces, @BuzzFeedBen
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